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This is a great take on a very subtle moment with an underappreciated character.
I wouldn't call Jameson underappreciated. He's as much an impediment to Peter as his is a benefit.
Sure, he won't hand his golden photographer over to the Goblin, even with a knife at his throat, and that's noble, but he also doesn't pay Peter shit, is partly responsible for the creation of at least two of Spidey's rogues, and actively turns the city against him with an unrelenting campaign of libel and hate.
He's chaotic neutral at best.
He's a business man.
And business is goooood.
Three if you count Punisher.
He didn't create the punisher youre thinking of the Publisher
He did make headlines that influenced punishers decision to go after Spider-Man, though.
Since when was J. Jonah Jameson "underappreciated" (especially in his portrayals by J.K. Simmons)? "Appreciated" in this context doesn't mean "liked," you know; it means "considered important." Love-to-hate villainous characters like Simmons as JJJ, Alan Rickman as the Sherriff of Nottingham or Snape or Hans Gruber, Louise Fletcher as Nurse Ratched or Kai Winn, etc., are plenty appreciated!
The only way it could've been less subtle is when he winked into the camera